Lee Street

Robert Smalley

Andrew Coombs

Anke Reingen

Chris Hallam

Daniel David

Jeremy Sigee

Kian Abouhossein

Máté Nemes

Matthew Clark

Nicolas Payen

Stefan Stalmann

Thomas Hallett

Dan David

Flora Benhakoun Bocahut

Flora Bocahut

Giulia Aurora Miotto

Giulia Miotto

Tarik El Mejjad

- Deutsche Bank reiterated its **FY 2025 revenue target of €32bn** (before FX effects) and **net interest income guidance of ~€13.6bn**, while also confirming it is on track to deliver a **Return on Tangible Equity (RoTE) of >10%** and a **cost/income ratio target of <65%**.  **[1159508_0001159508-25-000045_db20251001991.htm:0]** 
- The bank announced approval for a **second share buyback of €250m**, which commenced on September 17, 2025, and the completion of its **first €750m share buyback**.  **[1159508_0001159508-25-000045_db20251001991.htm:0]**  These actions bring the total capital distributions for 2025 (in respect of FY 2024) to approximately **€2.3bn**.  **[1159508_0001159508-25-000045_db20251001991.htm:0]** 
- Management noted that Commercial Real Estate remains a carefully watched item, as **H1 2025 credit loss provisions exceeded prior expectations** due to valuation pressures and model updates.  **[1159508_0001159508-25-000045_db20251001991.htm:0]**

Deutsche Bank Provides Q3 2025 Updates and Reaffirms FY 2025 Targets

- Deutsche Bank is on track to achieve its **FY 2025 financial targets** of **greater than 10% Return on Tangible Equity (RoTE)** and **less than 65% cost-income ratio**, with **first-half revenues at 16.3 billion**.  **[1159508_2146731_2]** 
- The bank has set a new CET1 operating range of **13.5% to 14%**, confirming its distribution policy of **50% of net income attributable to common** and indicating potential for additional capital returns above the 14% threshold.  **[1159508_2146731_6]** 
- Q3 2025 saw **strong momentum in the Investment Bank**, with fixed income and currencies (FICC) performance up at least high single digits, and Asset Management recorded **1.5 billion in first-half revenues**.  **[1159508_2146731_3]** 
- Deutsche Bank anticipates recovering **€600 million** from Germany's national resolution fund following a favorable court decision, though finalization is expected no earlier than **2026** due to potential appeals.  **[1159508_2146731_5]** 
- Ahead of its Capital Markets Day on **November 17**, the company plans to announce **RoTE targets above 10%** for 2025, driven by self-help measures including achieving **90% of its $2.5 billion cost savings target**.  **[1159508_2146731_11]**

Deutsche Bank Confirms FY 2025 Targets and Outlines Capital Management Ahead of Capital Markets Day

DEUTSCHE BANK AKTIENGESELLSCHAFT (DB)